Trading Outlook – AUD/USD

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Originally updated: 06:55

Trading Bias: SHORT

Currency pair: AUD/USD

Current Sentiment: Bearish

In today’s trading session we will be focussing on selling opportunities on the AUD/USD.


Overnight amidst some building market speculation the RBA jumped the majority of analysts’ expectations by unexpectedly cutting their interest rates by 25 bps to 2.25% as a consequence the AUD fell 1.7% and traded at levels last witnessed in 2009.


We expect this pair to sell off during today’s session.

There is strong resistance at 0.7720-0.7750 which could provide trading opportunities should the price pull back. Look for the price to bounce off this level if it retraces back to it.

Remember to be aware of intra-day news as this can very often change the sentiment which makes our trade weaker. Look for any news that could be positive for this pair, which would change the sentiment to (albeit marginally) bullish, an example of this would be a rally on commodity prices with the AUD being a commodity linked currency.

Other Market Moving News:

The move by the RBA also weighed on the NZD and CAD as both the aforementioned are also commodity linked currencies, with the JPY being the notable performer from this move.

This saw both the CAD/JPY and NZD/JPY pair weaken over 100 pips with AUD/JPY falling over 200 pips throughout the overnight session.

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Source:: Trading Outlook – AUD/USD

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Jarratt Davis is the world’s ranked #2 (2008-2013) Forex Trader by Barclays FX Hedge Index, following years of mastering his art as a self employed trader Jarratt has now entered the field of education and delivers the most robust Forex education package on the market. Jarratt’s mentorship is one of the only programs on the market that is conducted by a verified professional trader. Forex Alchemy readers can get the FREE mini course where Jarratt gives away some of his secrets to success by Clicking Here... [space height="20"] [social type="facebook"][/social] [social type="twitter"][/social] [social type="google-plus"][/social] [social type="youtube"][/social]

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